Schneider Electric Reportedly Eyeing Tyco

Schneider Electric SA is reportedly eyeing a takeover of Tyco International Ltd. (NYSE:TYC), an acquisition that would make it the world's largest maker of security systems, according to Bloomberg.

While the deal is still in preliminary stages, if it comes to pass Schneider would add ADT, the security systems firm, along with fire-prevention equipment and valves for water systems. Last year, the French company beat out General Electric (NYSE:GE) for a French power-transmission business and has since looked to expand further its factory automation and building controls, Bloomberg reported.

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As of last week, Tyco was valued at $22.3 billion. If Schneider takes over Tyco, it would be the largest takeover in the company’s history.

If the deal goes through, Schneider would be better suited to compete with other factory automation and building controls makers such as Siemens AG (NYSE:SI) and Honeywell International, Inc. (NYSE:HON), Bloomberg noted.